Spain Residence by Investment
Spain Residence by Investment: Spanish Golden Visa
Spain offers individuals a special investment program which allows them to obtain residency in the country through investment. The Spanish Golden Visa enables individuals to live in the Iberian Peninsula nation as long as they meet specific criteria regarding financial investments.
If you want to obtain Spanish residency courtesy of the Spanish Golden Visa, you will need to commit to capital investments or real estate. You can gain a Spanish Golden Visa by opening a business or residing in Spain as a highly qualified professional. There is also the opportunity to receive the visa by being transferred to the country by your company. The visa is available to individuals from non-EU countries who are over the age of 18 and meet a set of criteria.
By gaining residency, you can expedite the emigration process. Investing in Spain gives you the chance to shorten the emigration application time and to begin living in one of the most popular countries for residency in Europe.
How to get a Spanish Golden Visa?
The Spanish Golden Visa is rather straightforward. You are eligible for the visa by making one of the investments listed below:
- Invest in real estate in Spain worth a minimum of €500,000. The property may be a single unit or multiple units. The overall worth must be no less than €500,000.
- Make an investment into the Spanish public debt of a minimum of €2,000,000.
- Purchase shares in a Spanish company or make a deposit in a Spanish bank of no less than €1,000,000.
- Invest in a new business that will offer employment opportunities to Spanish residents, contribute to science and/or technology, and make a socio-economic impact in the area where the business will be set up.
Investing is just one of the criteria you must fulfil. In addition, you must also meet the following requirements:
- You must be a minimum of 18-years old.
- You must have no criminal history or criminal record.
- You must not have previously been denied a Schengen Visa.
- You must have legal health insurance in Spain.
How to apply for the Spanish Golden Visa?
Anyone who has made the investments previously listed into a Spanish town, city or government may apply for the Golden Visa. You can visit your nearest Spanish Embassy or Consulate to apply. When applying, you must be sure of making the financial investment into Spain. The investment into Spain does not have to be finalized at the time you apply for the Spanish Golden Visa.
An authorized representative can submit the application on your behalf or you can do it yourself. An authorized representative includes your personal lawyer. You will need to have all required documents at the time of submitting your Spanish Golden Visa application.
You don’t need to travel to or be in Spain at the time the visa application is made. However, you will likely need to visit Spain to sort out your investments prior to making application. Once you receive the visa, you must to travel to the country to obtain your residence permit.
Can family members join you?
Your family is permitted to join you in Spain once you receive a Golden Visa. However, your family members must apply for their own Spanish visas as dependents. They will need to include documentation to prove their relation to you. Items such as birth and marriage certificates should be included with the documentation.
Family members that you may include on your Spain Golden Visa include:
- Your wife/husband
- Children under the age of 18. If you have any children who are not minors but are nonetheless dependent due to any health or mental conditions, they also classify for the visa.
- Dependent elderly parents.
- Your family members will also gain residence permits and be allowed freedom of movement throughout the Schengen Zone.
How Long is a Spanish Golden Visa valid for?
The Spanish Golden Visa which is given at the embassy is valid for one year. You must enter Spain and exchange your visa for a Spanish residence permit at some point during that year. The residency permit is valid for two years.
One of the great benefits of the residence permit is that it can then be renewed indefinitely. There are no stay requirements as long as you continue your investment(s). You will need to travel to the Iberian Peninsula country each time you need to renew the permit. If you would like to live in Spain, then you can apply for a permanent residence permit. You will be able to apply for the permanent residence permit after five years of continual residency in Spain. You must live at least six months out of the year to be eligible for the permanent residence permit.
What are the benefits of the Spanish Golden Visa?
Since Spain is one of the countries that makes up the European Union, residents are allowed to travel visa-free to all Schengen Zone nations for up to three months within a six-month period. Family members are also allowed the same benefits. Other benefits to gaining a Spanish Golden Visa are:
- You can live outside of Spain when renewing your residence permit. However, you may remain in Spain if you prefer.
- You are legally able to work and live in Spain.
- You are allowed to bring your family members with you. This includes your spouse, children, and dependent parents.
- You and your family will gain access to public services such as state healthcare and public schools.
What documents are needed to apply for a Spanish Golden Visa?
When applying for a Spanish Golden Visa, you will need to submit the following documents:
- Spain Visa Application
- Two passport-size pictures
- Make sure your passport is valid for the initial period of time you plan to spend in Spain. It also needs at least two blank pages. You should include a photocopy of the personal information page of the passport.
- If you are not a citizen of the nation in which you live, you should include your residence permit.
- Documents to prove you have sufficient income to support yourself and family while living in Spain.
- Police records to prove you have no criminal history. They must be issued within the three months prior to submitting the application.
- Proof of health insurance (private or public) with a company located in Spain.
- Proof of Golden Visa fee payment.
- Any additional documents related to your visa case such as investment or real estate purchases.
- All documents submitted must be translated into Spanish by a certified translator and apostilled.